| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
Net income | ||||||||
166,268 | -57,390 | 252,526 | 249,740 | 219,658 | 185,543 | 122,856 | 113,593 | 118,495 |
Adjustments to reconcile net income to net cash provided by operating activities | ||||||||
Depreciation and amortization | ||||||||
14,127 | 14,917 | 15,567 | 16,142 | 14,474 | 14,445 | 16,880 | 14,413 | 15,003 |
Provision/(Recoveries) for doubtful accounts / advances | ||||||||
33 | 316 | 494 | -357 | 272 | 1,101 | 97 | 65 | 2,101 |
Realized gains on sales of short term investments | ||||||||
1,494 | 5,790 | 18,796 | 14,619 | 3,600 | 3,012 | 2,539 | 1,349 | 1,580 |
Bad Debts written off | ||||||||
1,620 | - | - | - | - | - | - | - | - |
Deferred income taxes | ||||||||
9,730 | -5,510 | 4,083 | 5,625 | 5,827 | 1,343 | 4,613 | 8,287 | 1,998 |
Compensation expense related to restricted stock | ||||||||
8,591 | 8,148 | 7,197 | 6,457 | 4,732 | 3,725 | 2,684 | 1,938 | 1,946 |
Unrealized foreign exchange (income) loss | ||||||||
607 | -713 | 207 | - | - | - | - | - | - |
Uncertain tax positions and other tax credits | ||||||||
- | - | - | - | - | - | -3,948 | -1,284 | -4,301 |
Gain on sale of property and equipment | ||||||||
106 | 231 | 25 | 44 | - | 977 | 0 | 0 | - |
Changes in assets and liabilities: | ||||||||
Accounts receivable and revenue earned in excess of billings | ||||||||
-3,240 | -18,963 | 39,470 | 25,677 | 41,783 | 10,065 | 40,907 | 20,286 | - |
Other current assets | ||||||||
-3,509 | -4,153 | 2,422 | 7,392 | 16,834 | 15,751 | 9,183 | 11,844 | - |
Accounts receivable and revenue earned in excess of billings | ||||||||
- | - | - | - | - | - | - | - | -1,717 |
Other assets | ||||||||
- | - | - | - | - | - | - | - | 29,129 |
Accrued payroll and other liabilities | ||||||||
798 | -1,162 | 8,198 | 16,289 | 28,698 | 19,742 | 27,399 | 23,224 | -6,235 |
Deferred revenue | ||||||||
-4,734 | 203 | 4,542 | -1,514 | 176 | -4,720 | 326 | 3,829 | 783 |
Net cash provided by operating activities | ||||||||
181,515 | -11,650 | 223,521 | 233,400 | 199,966 | 188,688 | 109,052 | 114,012 | 96,802 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
Property and equipment expenditures | ||||||||
8,610 | 17,513 | 17,013 | 19,218 | 20,495 | 32,255 | 38,232 | 22,546 | 25,509 |
Proceeds from sale of property and equipment | ||||||||
273 | 345 | 191 | 66 | 46 | 1,445 | 0 | 0 | - |
Purchase of mutual funds | ||||||||
246,660 | 184,692 | 221,097 | 349,791 | 294,010 | 270,685 | 213,829 | 292,745 | 272,861 |
Purchase of term deposits with banks | ||||||||
1,616 | 223,904 | 446,768 | 583,341 | 395,589 | 277,116 | 206,201 | 248,454 | 74,201 |
Proceeds from sales of mutual funds | ||||||||
239,019 | 299,208 | 304,083 | 305,298 | 200,836 | 238,604 | 219,032 | 289,247 | 273,475 |
Maturities of term deposits with banks | ||||||||
7,644 | 621,824 | 486,651 | 445,717 | 288,719 | 194,873 | 159,566 | 181,007 | 35,197 |
Net cash used in investing activities | ||||||||
-9,950 | 495,268 | 106,047 | -201,269 | -220,493 | -145,134 | -79,664 | -93,491 | -63,899 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
Excess tax (deficiency)benefits on stock-based compensation plans | ||||||||
- | -7 | 257 | 1,028 | - | - | - | - | - |
Repayment of loans and borrowings | ||||||||
140,625 | 210,000 | 8,625 | 7,125 | 54,500 | - | 0 | - | - |
Net proceeds from issuance of common stock | ||||||||
- | - | - | - | - | - | 2 | 947 | 440 |
Excess tax benefits on stock-based compensation plans | ||||||||
- | - | - | - | 656 | 645 | 0 | 152 | - |
Proceeds from loans and borrowing | ||||||||
- | 580,250 | - | - | 150,000 | 50,000 | 0 | 0 | - |
Fees paid relating to loans and borrowing | ||||||||
- | 1,026 | - | - | - | - | - | - | - |
Repurchases of common stock | ||||||||
16,173 | 9,990 | - | - | - | - | - | - | - |
Interest on loans and borrowings | ||||||||
- | - | - | - | - | 29 | 0 | 0 | - |
Dividend paid | ||||||||
- | 1,261,500 | - | - | - | 106,231 | 9,992 | 30,697 | 9,986 |
Net cash used in financing activities | ||||||||
-156,798 | -902,273 | -8,368 | -6,097 | 96,156 | -55,557 | -9,990 | -29,598 | -9,546 |
Effect of foreign currency exchange rate changes on cash | ||||||||
2,895 | -3,512 | -18,409 | -7,083 | 8,506 | 1,997 | 6,725 | -241 | -566 |
Change in cash and cash equivalents | ||||||||
17,662 | -422,167 | 302,791 | 18,951 | 84,135 | -10,006 | 26,123 | -9,317 | 22,791 |
Supplemental disclosures of cash flow information: | ||||||||
Cash dividends declared but unpaid | ||||||||
- | - | - | - | - | - | 2,494 | 2,490 | 2,792 |
Cash paid for income taxes | ||||||||
57,581 | 329,830 | 77,794 | 73,039 | 62,967 | 48,596 | 28,610 | 19,403 | 24,896 |
Cash paid for interest | ||||||||
13,373 | 3,328 | 2,215 | 2,291 | 1,601 | - | 0 | - | - |
Cash received from interest | ||||||||
793 | 9,564 | 25,956 | 35,827 | - | - | - | - | - |